Board of Aldermen 2-06-2020 Page 14
Ms. Novotny
For me?
Mr. Teeboom No this is for whoever can answer the question, probably Tim. How much money thus far did the
City spend on fundraising?
Mr. Cummings
Yes thank you Mr. Chair, give me one second | am quickly, this is going to be an approximate number. | am
going to say, approximately $50,000.00 and that may go up a little bit more to something like $60,000.00.
Mr. Teeboom That’s both with the New Market Tax Credit Consultant? OK how much more did we spend with
the New Market Tax Credit Consultant?
Mr. Cummings
Mr. Chair if | may the spending of the New Market Tax Credit Consultant to date is approximately $25,000.00,
it's a phased contract. We are in Phase |, that’s again $25,000.00-ish if we go into Phase II it is an additional,
again it is subject to us receiving the New Market Tax Credit but that would be an additional, I’m going to say
$40,000.00, $35,000.00 — for that second phase. | just want to be clear, the funding for these two expenses,
comes from the Downtown Improvement Committee, where they elected to put some of their resources towards
this project.
Mr. Teeboom So the money does not come out of the proceeds, it doesn’t come out of the $15.5 million?
Mr. Cummings
Correct.
Mr. Teeboom OK thank you.
Philip Scontsas Good evening everyone, Phiip Scontsas, 14 Ashland Street. This is always the most
intimidating group to speak in front of. | don’t Know why, but | guess | am pretty passionate about this and you
can probably guess why. Again, not to be redundant but | am a third generation business owner in downtown
Nashua and I’ve seen a lot of things come and go. I’ve been involved in a lot of things. | have to say that | am
really proud to be involved in this project. It has been a project that has been thoroughly, thoroughly thought
out. The studies that have been done, the people that have been involved have really been top notch. When
you see what this building and this Performing Arts Center will bring to, | get a little crazy when people keep
concentrating on just downtown. | keep saying what it will bring to Nashua; | think it is pretty amazing. And |
hope that all of my friends on the Board understand that my feelings are not just because | am downtown, but
because | feel that it is the right thing, and the right direction for our City to do.
| am also on the Capital Campaign Committee and | have to say that the enthusiasm that we have seen from
people to give money has been overwhelming. It’s not an easy task as you can imagine, people have to really
think this through, especially with these major gifts. But the response has been really awesome. | know that |
can personally tell you that my family has dug deep and is going to make a major donation as well as a lot of
my fellow business people downtown and friends and business people that | know around the City. The other
thing | want to tell everybody here is when | speak about the Performing Arts Center, | always ask people’s
opinion. And | have to say that it is positive, it is a resounding positive response that | get from people that live
or play or shop in Nashua. A lot of people that don’t even live in Nashua think it’s just a really wonderful thing
and envy it for their towns.
